Entrepreneurship : Article

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The term “access” can have a variety of definitions for life science and digital health entrepreneurs, depending on the phase of their company’s development. Similarly, the ability for entrepreneurs to secure access – whether to potential buyers or to funding – varies depending on the type of access they’re seeking and the stage of their company.

At age 25, Laura Sanko was a founding member of a startup that raised $3.5 Million from some world-famous investors and the Founder’s Fund. The business model was simple: a website that rented high-end jewelry for special occasions for a fraction of the retail value of each piece. Three years later, the investment money was all gone and while the site continued to operate, it had failed to meet the investors’ expectations.

This entrepreneur thought he had built in adequate legal protections to ensure his partner in a new venture would not get full control of the business. When the partner was ready to sell the company, however, the entrepreneur discovered he didn't have the leverage he needed to stop the company's sale.

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